Pretty much but they are called Betas on the site because they don't make any edits themselves. They just bring up things you need to edit.
I know this doesn't seem like a big deal, given that it's just a fan fiction site but it feels like one to me right now because it is a big help and it feels great to be working with someone for a change.
I am using the site to improve my writing over all so I can become a better writer and get my novels in a shape that is read to be published.